Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Wednesday, September 26, 2018
Tags: central bank
Legality of cryptocurrencies in Vietnam remains unclear Legality of cryptocurrencies in Vietnam remains unclear
Bitcoin and other similar virtual currencies like ethereum, ripple and litecoin have become a hot topic among investors. But let’s set aside the worries and excitement and ask a question: are cryptocurrencies lawful in Vietnam?
State to monopolize via-account gold trading State to monopolize via-account gold trading
The State would hold monopoly in mobilizing gold from organizations and individuals and via-account gold trading.
Vietnam unveils new non-performing loan toolkit Vietnam unveils new non-performing loan toolkit
As high non-performing loan (NPL) levels affect many credit institutions, particularly financially weak banks, authorities should step in to lead the system-wide response. This article dwells on major solutions to NPLs set forth in a recently approved scheme on banking system restructuring and NPL resolution.
Banks asked to further develop mobile payment Banks asked to further develop mobile payment
By 2020, at least 300,000 point-of-sale machines will be installed with the number of transactions reaching around 200 million per year.
Enforcement of security under the new resolution on dealing with bad debts Enforcement of security under the new resolution on dealing with bad debts
Resolution No. 42/2017/QH14 on trial dealing with non-performing loans of credit institutions was passed on June 21, 2017, by the National Assembly. It took effect on August 15, 2017, and remains in force for five years from that date. The resolution is a long-awaited text and expected to help credit institutions to better deal with their non-performing loans. A significant number of provisions of this text are about secured transactions which are at the heart of the process of recovery of bank loans for the time being. This article tries to give an overview of the text.
Government announces state monopoly over 20 goods services Government announces state monopoly over 20 goods, services
The Government on August 7 issued a decree on state monopoly over 20 groups of goods and services, including goods and services for national defense and security, production of gold bars, and import of cigarettes and cigars.
PM asks central bank to mobilize idle US dollars PM asks central bank to mobilize idle US dollars
The Prime Minister has requested the central bank to promptly adopt policies to mobilize idle US dollars from the local population to invest in business and production.
Foreigners may be allowed to make savings deposits at local banks Foreigners may be allowed to make savings deposits at local banks
Non-residents with presence in Vietnam may be allowed to make termed savings deposits in both Vietnam dong and foreign currency at local banks, according to a draft circular recently released by the State Bank of Vietnam.
Session transforms a legislature ‘of reporting to that ‘of debate: top legislator Session transforms a legislature ‘of reporting’ to that ‘of debate’: top legislator
The Government should take note of opinions expressed by National Assembly deputies and draw lessons to roll out breakthrough and drastic solutions in management work with a view to accomplishing socio-economic tasks set for the remaining months of the year, NA Chairwoman Nguyen Thi Kim Ngan said on June 21.
Decision No. 2545/QD-TTg Decision No. 2545/QD-TTg
approving the Scheme on development of non-cash payment in Vietnam during 2016-2020